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News Roundup: Murugappa Group Eyes Acquisitions

21 August, 2009

Murugappa Group Eyes Acquisitions – The $3 billion Murugappa group is looking for acquisitions to ramp up growth of its companies. The diversified group is also looking to enter into newer areas like power and water. The group has a presence in areas like agri, fertilisers, sugar and tea. (Economic Times)

Oberoi Looks At ITC For proposal – Oberoi Group chief has said that if ITC plans to join hands with the Oberoi Group in the hotels venture, it must come forward with a concrete proposal. PRS Oberoi said that some media reports suggested that ITC was willing to work with the Oberoi group. ITC owns the Welcome group of hotels and has a 14.98% stake in EIH while the promoter group holds 46.42% in EIH. (ET)

BBC To Make Lehman Movie – The collapse of Wall Street bank Lehman Brothers is being dramatised by the BBC in a made-for-TV movie to be shown around October. “The Last Days of Lehman Brothers” will show Lehman’s much-lambasted chief executive Dick Fuld as he attempts to strike a last-ditch rescue deal for the bank.(Reuters)

Nakoda Gets Stake in Yarn Park – Nakoda Textile Industries Ltd, leading player in the fully drawn yarn market, has picked up an 18.5% stake in Surat Super Yarn Park. The park will be operational by September this year and has been floated as a SPV by Nakoda, Shubhlaxmi Group and the Kothari Group. (Business Standard)


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News Roundup: Murugappa Group Eyes Acquisitions

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